The Influence Effect and Role Mechanism of Digital Finance on Enterprises'Green Technology Innovation
Improving the greening and decarbonization level of enterprises is a key link to a-chieve high-quality economic development,and digital finance has great significance for the greening of enterprises.In this regard,on the basis of theoretical research,we analyze the mechanism of dig-ital finance to promote enterprise green technology innovation from three aspects:financing constraint alleviation,financial resources mismatch mitigation and policy precision matching,and empirically test the impact of digital finance on enterprise green technology innovation by adopting a two-way fixed effect model.The results show that the development of digital finance can significantly enhance the enterprises'preference for green technology selection,and the effect of digital finance on enter-prises'substantive green technology innovation is more significant.From the perspective of heteroge-neity,the incentive effect of digital finance on green technology innovation is more obvious in non-state-owned enterprises,enterprises in central and western regions,and enterprises in heavily pollu-ted industries.Therefore,digital technology should be used to improve the financial supply system,alleviate the financing difficulties of enterprises and optimize the allocation of financial resources,strengthen the precise matching of policies,and guide enterprises in heavy pollution industries to transform into green technology.
digital financegreen technology innovationfinancing constraintsfinancial mis-matchpolicy matching
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